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Economy
Consumer spending down due to Omicron, but things are looking positive
February 08, 2022 08:33 PM AEDT| By Sukriti NairHighlights Omicron has caused significant decline in household spending. Inflation and higher labour costs have impacted business conditions in Australia. Economists believe the impact of Omicron is lesser in comparison to previous COVID-19 va.....
Is the Australian property market boom here to stay?
February 08, 2022 05:55 PM AEDT| By Akanksha VashishtHighlights National home values have continued to surge in Australia since the onset of the pandemic. Property prices may observe a decline this year in case the central bank embraces a rate hike. Increased supply of housing and weaker demand .....
Business conditions deteriorate but confidence jumps in January, says NAB
February 08, 2022 04:03 PM AEDT| By Akanksha VashishtHighlights Australia saw deteriorating business conditions in January due to the Omicron wave. Staff shortages and consumer caution impacted business conditions amid rising virus cases. However, business confidence has managed to exhibit an up.....
Kiwis fret as fuel prices reach $3 per litre
February 08, 2022 02:07 PM AEDT| By ManikaHighlights Fuel price increase to cause additional burden on Kiwis’ pockets The Government says that it is due to an increase in Brent Crude. With fuel prices rising, Kiwis are feeling pressure on their household budgets. According t.....
Three green shoots gleaming in the Australian travel industry
February 07, 2022 09:53 PM AEDT| By Akanksha VashishtHighlights The Australian travel industry is yet to return to its pre-pandemic state. Australia has now planned to reopen its international border to tourists starting 21 February 2022. Aussies can now plan a trip to Bali as Indonesia opens it.....
Why are first-time homebuyers fuming at Australia’s property boom?
February 07, 2022 07:38 PM AEDT| By Akanksha VashishtHousing demand remained at an all-time high throughout the previous year, backed by record-low interest rates. The rebounding demand has been fuelling property prices, leaving behind a large section of buyers struggling to enter the market. In fact.....
Thanks to lockdown recovery, Australia records robust retail sales in Dec 2021 quarter
February 07, 2022 03:14 PM AEDT| By Akanksha VashishtHighlights Australians utilised their savings to ease their pent-up demand during the December 2021 quarter. Clothing, footwear, and accessories recorded the largest jump in retail sales during the quarter. The December quarter fared well as c.....
US employers add 467,000 jobs in January, jobless rate steady at 4%
February 06, 2022 03:36 PM AEDT| By Team Kalkine MediaHighlights While hirings and steady wage gains boosted consumer spending, inflation remained a concern. The strong January hirings showed employers are keen to employ even as the pandemic raged. The Fed is considering raising the interest rate.....
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Cost of living crisis: Bank of England expected to hike interest rates
February 03, 2022 11:57 PM AEDT| By Priya BhandariHighlights Britons and economists are expecting the Bank of England’s Monetary Policy Committee (MPC) to hike interest rates again on Thursday to curb the pressure of surging inflation. Energy regulator Ofgem has said that the energy pric.....
Component shortage, supply chain woes bring down car sales in Jan 2022
February 03, 2022 08:52 PM AEDT| By Priyanka PayalHighlights New car sale in Australia for the month of January 2022 declined by 4.8% annually. Component shortage and the Covid pandemic-led supply chains woes weighed on vehicle sale last month. Toyota sold 15,333 vehicles sold to become the m.....
How are international trade and property markets responding to policy changes?
February 03, 2022 05:42 PM AEDT| By Akanksha VashishtBuilding approvals have been on the rise in Australia, with the private sector securing a large chunk of dwelling approvals. Data released by the Australian Bureau of Statistics (ABS) on dwelling approvals for December shows that the seasonally adj.....
What does RBA expect from the Australian economy in 2022?
February 02, 2022 04:05 PM AEDT| By Akanksha VashishtHighlights The RBA Governor recently presented the outlook for the Australian economy in an address to the National Press Club of Australia. At present, labour market strength and rising inflation are shaping up the Australian economy. The RBA.....
NZ government proposes insurance scheme for workers with job loss, seeks feedback
February 02, 2022 03:21 PM AEDT| By ManikaHighlights The NZ government plans to introduce a new insurance scheme. The scheme is for workers who lose their jobs. The Scheme is likely to support over 100,000 Kiwis every year. The Government of New Zealand plans to introduce a new i.....
Australia seeks to join EU's trade row talks against China
February 01, 2022 09:19 PM AEDT| By Team Kalkine MediaTrade Minister Dan Tehan said on Saturday that Australia will seek to join the World Trade Organisation (WTO) talks over a trade dispute between China and the European Union (EU). On Thursday (January 27, 2022), China was accused by the EU of foll.....
RBA ends bond buying program, keeps cash rate on hold
February 01, 2022 05:33 PM AEDT| By Akanksha VashishtThe year 2022 seems to have started a bit differently for Aussies as the central bank withdrew its bond buying program, tightening its existing monetary policy. In fact, the Reserve Bank of Australia (RBA) is slowly inching towards a reduced moneta.....
ABS: Lending inches higher, retail sales take a breather in December
February 01, 2022 02:26 PM AEDT| By Akanksha VashishtHighlights Retail sales declined in December but stayed higher than pre-pandemic levels. Owner-occupier lending rose in December, following a perpetuating trend fuelled by record-low interest rates. The recent statistics suggest that the Austr.....
Is an interest rate hike on the way in Australia?
January 31, 2022 09:25 PM AEDT| By Akanksha VashishtHighlights The Australian economy seems to be well beyond the stage where a monetary stimulus is needed. Extremely accommodating policy measures does not seem to fit well in the current high inflation environment. Some experts predict that the.....
What to expect from RBA’s monetary policy meet due tomorrow?
January 31, 2022 06:26 PM AEDT| By Akanksha VashishtHighlights Expectations are building up for the upcoming RBA monetary policy meet surrounding the quantitative easing measures. The last two months of 2021 have demonstrated strength in economic data. An interest rate hike is unlikely to be an.....
NSW’s JobSaver 2.0: From payments package to timeline; all you must know
January 31, 2022 02:54 PM AEDT| By AshishHighlights NSW’s new JobSaver-style scheme is designed to help small businesses which are under financial stress due to Omicron. The relief program is applicable only for the month of February. The eligible business can submit their appl.....
Why did CDC & European Council impose travel restrictions on Australians?
January 30, 2022 12:41 AM AEDT| By Toshiva JainHighlights The US Centre for Disease Control and Prevention has released a list of 22 countries to be avoided to travel to due to the rising COVID-19 cases. Australia is one of these 22 nations. Right after CDC’s remark, the European Coun.....
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